At the Worldwide Developers Conference, Apple unveiled some of its upcoming offerings including the iCloud Drive and iOS 8. The iOS 8 gave a sneak peak on what devices like the iPhone 6 and iPad series will provide. As more details about the iPhone 6 emerge, industry observers and analysts wonder if the company can surpass its previous iPhone performances. According to predictions including the one from Goldman Sachs, Apple's next handset release may push stock price to record heights.
As Value Walk reported, Apple's stock price performed its best for the last eighteen months. The increase in stock price got analysts and companies to adjust their long-term forecasts about the company. Apple's stock price has been going well more than what the company saw for the past year. In fact, since last May, Forbes reported that Apple's stock reached $644.17. This was the highest in 52 weeks. The surge has outperformed the slim gains related to major averages.
The increase in the price was not just because of Apple's recent conference. In fact, many analysts believe the better performance stems from the upcoming iPhone 6. Whereas the iPhone 5s did not reach the intended forecasts, its successor promises to be a big hit for the company. According to reports, the large screen will be a breath of fresh air drawing potential customers to it. An added area to compete means increase market potential.
Analyst Ben A. Reitzes said before that Apple stock prices can reach up to $590. In a sudden turn of events, Apple broke the record easily. Nonetheless, Stuart Jeffrey from Nomura said that Apple's announcements during the WWDC can be considered the company's way of "keeping its tinder dry" according to a report by Forbes. Jeffrey stands neutral about Apple's performance upon iPhone 6's release regardless of the strong potential for replacement cycle. The analyst noted that the company may struggle with year-over-year evaluation the next year.
According to Apfelpage.de, Deutsche Telekom officials were notified of the release date on September 19.
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